"Real Estate Effective Oct. 15, waived inspections will be a thing of the past. For years, Massachusetts homebuyers in the state's hyper-competitive real estate market felt pressured to waive home inspections to make their offers more appealing. As of Oct. 15, new state regulations ban homeowners and realtors from selling a property on the condition that they waive the inspection and prohibit buyers from offering to waive the inspection to get ahead of the competition."
"Sellers cannot require buyers to skip an inspection. Offers cannot be contingent on waived inspections. Buyers can waive an inspection, but sellers and agents cannot influence the decision. Sellers must provide a signed disclosure outlining the buyer's inspection rights. Exemptions: new homes with a one-year warranty, sales between family members, or sales through a trust. Rules apply to purchase agreements signed on or after Oct. 15."
New state regulations effective Oct. 15 ban sellers and realtors from conditioning property sales on waived home inspections and prohibit offers contingent on inspection waivers. Buyers may voluntarily waive inspections, but sellers and agents are barred from influencing that decision and must provide a signed disclosure outlining buyers' inspection rights. Exemptions include new homes with a one-year warranty, sales between family members, and sales through a trust. The rules were finalized as part of the Affordable Homes Act in June. Home inspections are emphasized as critical for uncovering issues, avoiding expenses, and enabling fair price negotiations, though impact may be limited given past waiver patterns.
Read at Boston.com
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